Administration’s Steps on Oil Market Speculation Mostly Rely on Congress

By: Tuesday April 17, 2012 10:21 am

The President used a Rose Garden speech today to announce a new effort to crack down on rising oil market speculation. Here’s an excerpt from the remarks: We can’t afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher — only to flip [...]

Democrats Continue to Push Speculation Angle on Gas Prices

By: Thursday April 5, 2012 10:34 am

House Democrats have continued their efforts to keep the notion of oil speculation driving the run-up in gas prices at the head of the national conversation. Yesterday, the House Democratic Steering and Policy Committee held a hearing on over-speculation and its impact on the market, attended by, among others, Democratic Leader Nancy Pelosi. In remarks [...]

Oil Speculation Can Be Right and Also a Problem

By: Thursday March 8, 2012 9:06 am

Matthew Yglesias has a piece making the fairly obvious point that geopolitical tensions cause the price of oil to rise. He adds that speculators are right to bid up the price of oil because of that: In the grand scheme of things, if the Iranian nuclear program really is a dire threat to American security, [...]

Judge Poised to Strike Down Position Limits for Oil Market Speculators

By: Tuesday February 28, 2012 8:55 am

We know that Wall Street speculation shoulders part of the blame for rising gas prices, and that the Commodity Futures Trading Commission has done little to stop it. But I didn’t know that even the weak CFTC rules established last year were being challenged in federal court. And the outcome of that court case could [...]

Pelosi Speaks the Unspoken: Wall Street Speculation to Blame for Rising Gas Prices

By: Thursday February 23, 2012 6:59 am

House Democratic Leader Nancy Pelosi went sharply after oil speculation late yesterday, taking up a strategy to answer Republicans on rising gas prices that has not been employed much in the political sphere. Take a look at Pelosi’s press release yesterday on the subject: Independent reports confirm that speculators are driving up the cost of [...]

High Gas Prices Coming from Over-Speculation, Says Analyst

By: Wednesday February 15, 2012 9:36 am

We’ve been hearing for several weeks now that gas prices are headed up, and that has borne out. Oil is trading at a high for the month, and gas prices have ticked up, with the expectation of an average of over $4 a gallon by Memorial Day. Needless to say, this will put a crimp [...]

More Details on Omnibus Spending Bill Passing Congress Today

By: Friday December 16, 2011 11:38 am

Now that we know the state of play on the one year-end bill left outstanding, let’s redirect to the one that’s moving through the system currently. The House just passed the omnibus appropriations bill, funding all government agencies through the rest of the fiscal year, until September 30, 2012. It’s on to the Senate, where [...]

White House Wants Short-Term Funding, Has Problems With Omnibus

By: Thursday December 15, 2011 7:05 am

It’s Thursday. The government runs out of money on Friday. And there doesn’t appear to even be negotiations on resolving the impasse, which is tied up in the year-end extensions of the payroll tax cut and unemployment insurance. So the odds of a government shutdown are quite high. Last night, the White House released an [...]

Corzine on MF Global Depositor Funds: “I simply do not know where the money is”

By: Thursday December 8, 2011 6:55 am

Former Senator Jon Corzine faces a House Agriculture Committee panel today, where he will testify that he doesn’t know “where the money is” from customer accounts that was used by his former company, MF Global, to trade on the company account. Joe Weisenthal points us in the direction of Corzine’s testimony, which he will give [...]

CFTC Budget Slips Away; Staff Cuts Expected

By: Monday November 21, 2011 12:15 pm

The Commodity Futures Trading Commission, perhaps the biggest loser in the appropriations deal secured last week, may lose staff after their budget was cut by 1/3 from the President’s budget request. This comes at a time when the CFTC takes on expanded responsibilities in the wake of Dodd-Frank. It’s a remarkable situation that underscores the [...]

Appropriations Bill Funding the Government Zeroes Out High Speed Rail

By: Friday November 18, 2011 7:00 am

One thing that Democrats and Republicans were able to get together on yesterday was to pass a continuing resolution to fund the government for an additional four weeks beyond today’s deadline, until December 16. The continuing resolution was attached to a “minibus” of three appropriations bills, for various federal departments, including Commerce, Justice, Transportation, Housing [...]

Advertisement
FOLLOW FDL NEWS DESK

Close